Over in Europe, men in tight pants are buying stocks furiously. The DAX and CAC are up greater than 1.5%. Here in the state, the Dow is looking to soar by 150, Nasdaq by 85. The news is curiously absent from the tape. I did see this — some fuck over at Carlyle speculating like a motherfucker.
“I do think there will be a resolution before the end of the year” in the U.S.-China trade war, says private equity billionaire David Rubenstein.
Rubenstein says he’s spoken to U.S. and Chinese officials. “My view is both sides want a deal.”
President Trump and Chinese President Xi Jinping will meet at the G-20 summit later this month, Rubenstein predicts.
But the important thing happening this morning is in the bond markets. Listen to me and look at me — these fucking yields, god damn it, are out of control to the downside. People are plunging into bonds like it was the end of days.
Right now the 10yr is at 2.02%, down more than 6 basis points. The 30yr is at 2.51%, placing 30yr mortgages sharply under 4%. The cost of capital is now cheapest in years, happening at a time when the economy is great. So, and this goes without saying, the perception is this will be inflationary. We haven’t tried lowering rates while the economy was ripping. Maybe this does the trick!
As such, gold is rocking higher — now up 0.8% to 1,353.
Lastly, fake meat is above $200.
Happy trading.
The market implied probability of an #ECB rate cut by September has spiked to 87%. It was 40% yesterday! pic.twitter.com/9ZpqHrFA2a
— jeroen blokland (@jsblokland) June 18, 2019
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Phil Graham wrote an Op-Ed in WSJ that was very interesting … and complicated. It focused on the rate the Fed is paying on bank RESERVES, not the Fed Rate itself. He thinks the Fed has been neutered.
They can’t save all the “investment grade” junk without letting PMs run.
fake meat is the future, is fake news
fake meat is the fake future
I agree with some fuck over at Carlyle speculating like a motherfucker. There will be some sort of a deal. Mainly because Trump needs one for re-erection purposes.
Both sides want a deal? No shit Sherlock. I could’ve told you that and saved you the call to the “officials” you spoke to. Agree the Fed is neutered and the POTUS keeps Powell’s balls in his desk. My thoughts are why does Powell give a shit what POTUS thinks? The Fed has their mandates. Is he really worried he will be fired? Really? Who gives a fuck – he is rich. Don’t think he has to worry about feeding his family or if the mortgage will be paid. Do your fucking job and tell Trump to go shit in his hat.